If you own a business, you're probably familiar with AdWords, the digital advertising platform developed by Google. It has become one of the go-to choices for businesses wanting to advertise online; but, it might not be the best option for you.
That might be tough to hear if you've invested a lot of money in AdWords. It might be even harder to hear this: you might be wasting money.
In terms of effectiveness and price, there are better platforms out there. One of those, depending on the type of business, is Amazon.
Amazon Sponsored Products ads are a bargain right now. A steal, really. But they won't work for every business. I know, I get your hopes up just to say they might not work for you. Before you sign off, let's look at what makes Amazon Sponsored Products beneficial right now and who can utilize them.
Some quick stats
- Fifty-five percent of people skip Google and start their online shopping searches on Amazon.
- Last year ad revenues:
- Google: $80 billion
- Facebook: $27 billion
- Amazon: $2 billion
What these two stats mean
- People who are searching on Google are more likely to be at the beginning of their buyer's journey, not necessarily ready to purchase.
- People searching on Amazon are more prepared to make a purchasing decision (hey, being in front of those people sounds nice, right?)
- Google's ad revenue is 4,000% greater than Amazon's, meaning obtaining a good ad position is going to more difficult and more expensive. Like, not worth it expensive.
What's the benefit of Amazon Sponsored Products ads?
After piecing together these stats and what they mean, you're probably starting to see what the benefits are. Not only will your ads be shown to people who are toward the end of their buyer's journey, that is, looking to buy, you'll also have a lucrative opportunity to obtain good ad positions at lower costs. That's a formula you shouldn't dismiss out of allegiance to Google. The longer you wait, the less advantageous that formula becomes.
The average cost per click on Amazon ads is 38% lower than Google AdWords.
So who can benefit from Amazon ads?
Sorry B2B businesses, these ads aren't for you.
Since Amazon is a platform for purchasing products, you need to sell a product that can be sold online. Any ecommerce businesses or B2C businesses that can easily sell their products online are great candidates for these ads. If you're a B2C business but don't sell your products online, you will need to transition a little bit to take advantage of Amazon ads. Other than that, if you're a B2C business owner and you've seen a product similar to yours on Amazon before, you're in luck!
How do you start?
First things first, you will have to create a seller account on Amazon. You do have to pay a monthly fee for for this. Once you create an account, all you have to do is add products to the Amazon Marketplace Catalog and then run your ads to them.
Amazon Sponsored Products ads are a golden opportunity for your business. Don't sit on them for too long; they won't be this big of a bargain forever.
For more on how to get started with these ads, check out this blog.
Want more leads for your business? This FREE ebook is for you! Click below to download.